ABSTRACT This thesis aims to examine the group of 20 major economies (G20), in overcoming the financial crisis the US and EU. Precisely about effective or ineffective, the G20 in resolving the financial crisis. G20 will be said to be effective, if it can resolve the financial crisis of the US and the EU, and vice versa will be said to be effective, if it can not resolve the crisis. Based on the analysis of a number of data about the performance of the G20, along with the impact of the financial crisis, obtained answer G20 ineffectiveness or failure in resolving the crisis. G20 ineffectiveness in handling the financial crisis of 2008 caused the US as a hegemonic country is in a period of crisis that the country can not sustain the full agenda undertaken by the G20. The amount of US dominance in the international world making is often referred to as the world hegemon. The presence of a hegemon is necessary because the dominant actor in international politics and the economy is important to create a global standard. G20 regime requires the state is able to maintain the stability of cooperation. The decline of US hegemony, is also not free from kemuncullan The Rising Power of China. Purchases of US bonds made by China, shows the transition of economic power from the US to China. China using western liberalism through the global financial institutions and the G20 international cooperation to offset the weakening of US hegemony. China has also shown consistency with participation in international institutions, such as the IMF, World Bank and WTO which is a product of US hegemony. Changes in the international system is characterized by the emergence of China as a rising power and US hegemony that indicates the power distribution between the two. The ineffectiveness of the G20, as well as the existence of collective action related to the free-rider problem. Free Rider views of advantage due to the transfer of capital from developed countries to developing countries. Agenda of the G20 summit resulted in the role and functions of the IMF is still very significant in the process of international surveillance. additional liquidity through the Global Financial Safety Net. Liquidity regulation is subject to the rules of the OECD Code for Investment liberalization, and the IMF. While developing countries want independence in the management of liquidity, which is not bound by GFSN and OECD standards. Ineffectiveness of the last G20 because the deal is not only at the level of commitment at the level applicable. Compliance is adherence to the rules of the regime members. Compliance is a key concept is important to be able to make global governance function effectively. Research results G20 Research Group University of Toronto and International Organizations Research Institute of the National Research University Higher School of Economics (HSE Iori) in Moscow has produced a report on progress in implementing the G20 commitments issued priority at every meeting. Overall the G20 identifying developed countries committed to the agenda of priorities. While developing countries do not show high compliance as developed countries. Keywords : G20, Financial Crisis US and The European Union, The International Regime, Ineffectiveness or Untaken, Hegemony, The Rising Power of China, Collective Action Problem, Free Rider, ComINTISARI